Federated Hermes Inc. Sells 1,684 Shares of Newpark Resources, Inc. (NYSE:NR)

Federated Hermes Inc. trimmed its position in shares of Newpark Resources, Inc. (NYSE:NR) by 13.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,014 shares of the oil and gas company’s stock after selling 1,684 shares during the period. Federated Hermes Inc.’s holdings in Newpark Resources were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new stake in shares of Newpark Resources in the fourth quarter valued at approximately $67,000. Swiss National Bank bought a new stake in shares of Newpark Resources during the 4th quarter valued at $1,079,000. Dimensional Fund Advisors LP lifted its holdings in shares of Newpark Resources by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock worth $40,859,000 after buying an additional 303,236 shares in the last quarter. Trexquant Investment LP boosted its holdings in Newpark Resources by 983.6% in the 4th quarter. Trexquant Investment LP now owns 136,452 shares of the oil and gas company’s stock valued at $906,000 after purchasing an additional 123,860 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Newpark Resources during the 4th quarter valued at $2,567,000. 80.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NR shares. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a report on Thursday, September 19th. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Newpark Resources has an average rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Stock Down 4.6 %

Shares of NR opened at $6.86 on Thursday. The firm has a market cap of $593.18 million, a P/E ratio of 38.11 and a beta of 2.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61. Newpark Resources, Inc. has a 1 year low of $5.61 and a 1 year high of $8.65. The stock has a 50 day simple moving average of $7.74 and a two-hundred day simple moving average of $7.67.

Newpark Resources (NYSE:NR) last released its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The firm had revenue of $179.01 million for the quarter, compared to the consensus estimate of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, analysts forecast that Newpark Resources, Inc. will post 0.36 earnings per share for the current fiscal year.

Newpark Resources Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.